As I learn more and more about money, one of the essentials always comes back to the forefront. The idea of an asset as opposed to a liability. I just put up a new chandelier in my living room. Projects like these are always a mixture of excitement, disappointment, and eventually great satisfaction. As with any new project, the first time is hard. But not in an oppressive way, just in a matter-of-fact kind of way. Something you learn to absorb as part of the process.
As with most projects, this seemingly simple task had a lot of little frustrations built in. Nothing major though. And now, next time I want to change a chandelier, I will know exactly what to do and what not to do.
Whenever I spend money I ask myself if the purchase is going to provide any returns or if it will end up taking money from me in the long run. Something like putting up a new chandelier can be a little change that could increase the resale value of my home. So I go for it!
I look forward to doing a lot more little projects like this because, as I said before, the process is very satisfying.
The next time you make a purchase, ask yourself, “is this a liability or an asset?”, and in no time making intelligent purchases will come as second nature. Until next time…